TAMPA, Fla. — The oil price plunge continues to place downward pressure on prices at the pump. Gas prices in the southeastern U.S. have fallen 5-6 cents in the past week, and more than 20 cents in the past month. The average price of gasoline has declined 21 cents during a period of 33 consecutive days in Florida, and 32 days in both Georgia and Tennessee.
"Gas prices are falling with very little resistance," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "Oil prices are forecast to remain at this level through the rest of the year. If that happens, and there are no supply issues, markets could see $2 gasoline again this fall.
On Friday, the price of WTI oil closed at $43.87 - the lowest daily closing price since March 16 when WTI reached a six-year low of $43.46. The weekly average was $44.89, the lowest since March 20. Oil prices were not even this low when gasoline bottomed out in January. The price of oil averaged $45.72 the week gas prices hit their 2015 low from January 26-31. During that week, the lowest average gas price was $2.07 in Florida, $1.99 in Georgia, and $1.88 in Tennessee.
State Breakdown
Georgia: The current average price of $2.45 is the lowest since April 29; 5 cents lower than a week ago, 21 cents less than a month ago, and 91 cents cheaper than a year ago. Gas prices have fallen 49 of the last 55 days.
Florida: The current average price of $2.45 is the lowest since March 26; 6 cents lower than a week ago, 22 cents less than a month ago, and 93 cents cheaper than a year ago. Gas prices have fallen 51 of the last 52 days.
Tennessee: The current average price of $2.32 is the lowest since April 27; 5 cents lower than a week ago, 20 cents less than a month ago, and 92 cents cheaper than a year ago. Gas prices have fallen 50 of the last 53 days.
Every day AAA surveys up to 120,000 stations based on credit card swipes and direct feeds in cooperation with the Oil Price Information Service (OPIS) and Wright Express for unmatched statistical reliability. All average retail prices in this report are for a gallon of regular, unleaded gasoline.
http://accesswdun.com/article/2015/8/328448/aaa-ga-gas-prices-cheapest-since-april-29